India’s economy is one of the fastest growing economies in the world,
As a part of economic reforms, the government has formulated many economic policies which have led to the country’s gradual economic development. Under the changes, there has been an initiative to improve the condition of exports to other countries. With this regard, the government has taken up a few actions to benefit businesses in the export trade. The primary objective of these benefits is to simplify the whole export process and make it more flexible. On a broader scale, these reforms have been a blend of both social democratic and liberalization policies.
Some of the different types of export incentive schemes and benefits that the government has initiated are:
Every licence must be get registered at respective customs location in the EDI System before utilisation and need to submit required BOND/ Bank Guarantee along with certain required documents.